Fiat Chrysler Automobiles NV is reviewing its investment strategy for Italy after the nation approved taxes on the purchase of larger gasoline and diesel vehicles, CEO Mike Manley stated on Monday. The automaker said in late November it would invest over 5 billion euros ($5.7 billion) on new models and engines in Italy over the […]
Press Releases
VW, Ford to collaborate on trucks, look forward to EVs, self-driving cars
Volkswagen and Ford Motor stated on Tuesday they will join forces on commercial vans and pickups and are looking forward to joint development of electric and self-driving technology, actions supposed to save the automakers billions of dollars. Ford and VW declared their partnership against the backdrop of the Detroit auto show. The tie-up, which begins […]
Tokyo court rejects Nissan Ghosn’s recent bail request
The Tokyo District Court on Tuesday rejected former Nissan Motor Chairman Carlos Ghosn’s request for release on bail following his indictment last week on two recent charges, making it possible the once-feted executive remains jailed for months. Lawyers for Ghosn have appealed the decision and could get a response under the next day. Ghosn awaits […]
Volkswagen to spend $800 million to build new electric vehicle in U.S.
Volkswagen AG stated on Monday it was spending $800 million to build a new electric vehicle at its plant located in Chattanooga, Tennessee, and scheduled a briefing with Ford Motor for Tuesday on their efforts to forge a worldwide alliance. The German automaker stated in an announcement at the Detroit Auto Show that it was […]
Volkswagen could face recall of more cars over emissions
Germany’s Federal Motor Transport Authority (KBA) is thinking about recalling more Volkswagen cars because of its emissions, scandal, the Bild am Sonntag newspaper reported on Sunday. The KBA has started an investigation into whether a software update for 1.2-litre engine cars, consisting of the popular Polo, allowed them to cheat emissions tests, the newspaper stated, […]
Nissan broadens Ghosn investigation to more nations, executive Munoz under scrutiny
Nissan Motor has expanded its investigation into ousted chairman Carlos Ghosn to consist dealings that occurred in the United States, India and Latin America, three people with information of the inquiry stated. In one aspect of their internal investigation, company investigators are looking into decisions made in the United States by Jose Munoz who led […]
Nissan board reassures alliance with Renault and Mitsubishi
Nissan’s board remains committed to the automaker’s alliance with Renault and Mitsubishi Motors, it stated after directors met to talk about the ongoing investigation into former chairman Carlos Ghosn and ways to strengthen governance. A board statement after Thursday’s meeting included that it also decided on an interim process to figure out executive remuneration and […]
South Korea ministry to file complaint against BMW for ‘delayed’ response
South Korea’s transport ministry stated it would lodge a complaint against German luxury automaker BMW with prosecutors for supposedly delaying recalls and concealing problems that resulted in several engine fires in the country this year. The ministry also fined BMW 11.2 billion won ($9.96 million) for “delayed recalls”. A faulty exhaust treatment system in BMW […]
Hyundai observes Russia auto market growth slowing in next year
South Korea-based automaker Hyundai Motor expects growth in the Russian auto market to reduce significantly in 2019, the head of its Russian branch said on Monday. Automakers have warned Russia’s strategy to raise value added tax in next year would hit vehicle sales, which have recently just started to recover from four years of stagnation. […]
Volkswagen to write off investment in Gett
German automaker Volkswagen is going to write off its investment in Gett after the Israel-based ride hailing app failed to achieve ground on bigger competitors Uber, Lyft and Didi, weekly Der Spiegel reported on Friday. Volkswagen spent $300 million in Gett in 2016, saying it intended for on-demand mobility services such as smartphone ride hailing […]
Russian automaker GAZ works to remove sanctions
Oleg Deripaska’s team, that secured the lifting of U.S. sanctions on the Russian tycoon’s aluminum and energy businesses, is also collaborating to get them removed from his automaker GAZ, five sources close to the talks stated. On Thursday, the U.S. Treasury increased a deadline for investors to divest from GAZ to March 7 and granted […]
Tokyo court declines prosecutors’ appeal against decision not to extend Ghosn’s detention
A Tokyo court upheld a decision that refused to extend the detention of former Nissan Motor Chairman Carlos Ghosn and former Representative Director Greg Kelly, public broadcaster NHK stated on Thursday, a move that brings them nearer to a release on bail. The court turned prosecutors’ appeal against the original decision. Ghosn and Kelly were […]
Nissan CEO meets Renault’s acting boss
Nissan Motor on Thursday stated CEO Hiroto Saikawa had held a one-on-one meeting with the acting boss of its partner Renault during talks between the alliance that took place in Amsterdam this week. Nissan stated that Saikawa characterized the discussion with Renault Deputy CEO Thierry Bollore as “positive” and “productive”. The Japanese automaker was ready […]
U.S. Congress will not vote for self-driving car bill this year
The U.S. Congress will not vote on a bill to speed the introduction of self-driving cars before it adjourns for the year, a blow to companies like General Motors Co and Alphabet Inc’s Waymo unit, key senators said on Wednesday. Congress is also not going to take up a proposal pushed by General Motors and […]
General Motors cutting 50 jobs at U.S. battery plant
General Motors stated on Tuesday it prepares to slash 50 jobs at a suburban Detroit lithium-ion battery assembly plant after the automaker announced previous month it will end production of its plug-in hybrid Chevrolet Volt in next year. In a filing with the state of Michigan, GM revealed it will remove 37 hourly jobs and 13 […]
